Helmerich & Payne (NYSE:HP) Releases Quarterly Earnings Results, Misses Estimates By $0.27 EPS

Helmerich & Payne (NYSE:HP) released its earnings results on Wednesday. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.27), FiscalAI reports. Helmerich & Payne had a positive return on equity of 0.28% and a negative net margin of 7.71%.The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $990.16 million. During the same quarter last year, the business earned $0.71 earnings per share. The firm’s revenue for the quarter was up 50.2% on a year-over-year basis.

Helmerich & Payne Price Performance

Shares of NYSE:HP traded up $0.81 during midday trading on Friday, hitting $35.34. The company had a trading volume of 196,852 shares, compared to its average volume of 1,773,779. Helmerich & Payne has a twelve month low of $14.65 and a twelve month high of $36.73. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of -11.08 and a beta of 0.57. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.80 and a quick ratio of 1.40. The business’s 50-day simple moving average is $30.66 and its 200-day simple moving average is $24.90.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, February 13th. Helmerich & Payne’s dividend payout ratio (DPR) is -59.88%.

Insider Activity at Helmerich & Payne

In related news, Director Hans Helmerich sold 75,000 shares of the firm’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $28.12, for a total transaction of $2,109,000.00. Following the completion of the sale, the director directly owned 496,735 shares in the company, valued at approximately $13,968,188.20. This trade represents a 13.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its stake in Helmerich & Payne by 2,433.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 1,582 shares in the last quarter. Parallel Advisors LLC increased its stake in Helmerich & Payne by 407.1% during the third quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,787 shares during the period. Advisory Services Network LLC purchased a new stake in Helmerich & Payne during the third quarter worth about $118,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Helmerich & Payne by 454.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,909 shares of the oil and gas company’s stock worth $120,000 after purchasing an additional 6,483 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Helmerich & Payne by 134.6% in the second quarter. Tower Research Capital LLC TRC now owns 10,959 shares of the oil and gas company’s stock valued at $166,000 after purchasing an additional 6,287 shares during the period. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HP. Evercore ISI boosted their price objective on Helmerich & Payne from $20.00 to $27.00 and gave the company an “in-line” rating in a report on Wednesday, November 19th. Citigroup boosted their price target on Helmerich & Payne from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $34.00 price objective on shares of Helmerich & Payne in a research note on Thursday, January 15th. Barclays lifted their target price on shares of Helmerich & Payne from $29.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday, December 17th. Finally, Wall Street Zen downgraded shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a report on Sunday, November 23rd. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $33.40.

About Helmerich & Payne

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.